Thailand and Cambodia to forge closer trade talks

After the fourth Joint Trade Commission (JTC) recently, Commerce Minister Boonsong Teriyapirom said that Thailand and Cambodia had the potential to drive two-way trade up by 30 per cent, due to strong growth in 2012. Last year, bilateral trade grew by 40.5 per cent year on year, from US$2.86 billion (Bt84 billion) in 2011 to $4.03 billion in 2012. To drive growth, the two countries will also strengthen cooperation on trade and investment in other sectors, ready for the opening of the Asean Economic Community in 2015. … Moreover, under an initiative called the Greater mekong Sub-region Cross-Border Transport Agreement, the two nations will provide public transport between the border town of Aranyaprathet and Cambodia’s Poipet. It is hoped the move will lead to a growth in logistics and trade between the two countries and improve immigration procedures for travellers, including an electronic passport identification system.